CenterPoint Energy (NYSE:CNP – Get Free Report) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Friday, Marketbeat.com reports. They currently have a $29.00 price objective on the utilities provider’s stock, down from their prior price objective of $32.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 7.13% from the company’s previous close.
A number of other analysts have also commented on CNP. Scotiabank lowered their target price on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. KeyCorp decreased their price target on shares of CenterPoint Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. StockNews.com raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets decreased their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Morgan Stanley lowered shares of CenterPoint Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $30.00 to $29.00 in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.90.
Check Out Our Latest Report on CenterPoint Energy
CenterPoint Energy Price Performance
CNP opened at $27.07 on Friday. The company has a fifty day moving average price of $29.89 and a two-hundred day moving average price of $28.86. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.06 and a current ratio of 1.20. CenterPoint Energy has a 52 week low of $25.42 and a 52 week high of $31.57. The firm has a market capitalization of $17.38 billion, a PE ratio of 19.06, a P/E/G ratio of 2.48 and a beta of 0.92.
CenterPoint Energy (NYSE:CNP – Get Free Report) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business earned $0.28 EPS. As a group, analysts anticipate that CenterPoint Energy will post 1.62 earnings per share for the current year.
Hedge Funds Weigh In On CenterPoint Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors boosted its stake in shares of CenterPoint Energy by 1.0% during the 1st quarter. Capital International Investors now owns 83,754,579 shares of the utilities provider’s stock worth $2,386,168,000 after buying an additional 865,120 shares during the last quarter. Boston Partners boosted its stake in shares of CenterPoint Energy by 3.3% during the 1st quarter. Boston Partners now owns 17,545,528 shares of the utilities provider’s stock worth $499,962,000 after buying an additional 556,802 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of CenterPoint Energy by 38.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,602,621 shares of the utilities provider’s stock worth $302,070,000 after buying an additional 2,961,464 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of CenterPoint Energy by 24.5% during the 4th quarter. Cohen & Steers Inc. now owns 8,030,646 shares of the utilities provider’s stock worth $229,436,000 after buying an additional 1,578,948 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of CenterPoint Energy by 0.8% during the 4th quarter. Northern Trust Corp now owns 5,952,992 shares of the utilities provider’s stock worth $170,077,000 after buying an additional 46,232 shares during the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.
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